The State of Oregon is learning a lesson in so-called "green jobs." Oregon has subsidized green technology to the tune of $68 million at a time when the state can hardly afford it, and yet it also has 11.5% unemployment. Why? Because a lot of the money went to waste. As an editorial in the (Longview, WA) Daily News reports:
[There were] several very wasteful projects. Among them was the Clatskanie ethanol plant which eventually went bankrupt and ceased operations. It received $12 million in tax subsidies and a $20 million energy loan from the state. Another wasteful example cited in the report was a wind energy project that was handed tax credits totaling $40 million. [It was] found that this project will generate less electricity than projects that received credits totaling around $4 million.
And yet, there's still that nagging 11.5% unemployment. So despite punching a hole in the state's budget, Oregon has seen little or no "green job" growth. At least not enough to reduce its unemployment. In other words, it's so not worth it.
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